| 1. |
PNOC Energy Development Corporation ("PNOC EDC") |
| |

|
Php19.2 billion IPO |

|
Issue date: December 2006 |

|
BDO Capital acted as Joint Issue Manager and Domestic Lead Underwriter. |
|
| 2. |
Chemrez Technologies, Inc. |
| |

|
Php1.5 billion Follow-On Offering |

|
Issue date: December 2006 |

|
BDO Capital acted as Underwriter. |
|
| 3. |
Aboitiz Equity Ventures Inc. |
| |

|
Php1.5 billion Preferred Shares Issue |

|
Issue date: December 2006 |

|
BDO Capital acted as Underwriter. |
|
| 4. |
Megaworld Corporation (“Megaworld”) |
| |

|
Php10.8 billion Stock Rights Offering |

|
Issue date: January 2007 |

|
BDO Capital acted as
Financial Advisor/Issue Manager and Bookrunner (There was
no investment house that acted as underwriter. Aside from
its official role as Financial Advisor, BDO Capital effectively
acted as Issue Manager and Bookrunner to the transaction.) |

|
Aside from being oversubscribed,
the deal was the most widely participated rights offering
in the recent history of the Philippine Stock Exchange.
|
|
| 5. |
Filinvest Land Corp. |
| |

|
Php8.6 billion Primary and Secondary Offering of Common Shares (Follow-On Offering) |

|
Issue date: February 2007 |

|
BDO Capital acted as Underwriter. |
|
| 6. |
Alliance Global Group, Inc. ("AGI") |
| |

|
Php3.3 billion Stock Rights Offering |

|
Issue date: March 2007 |

|
BDO Capital acted as
Financial Advisor/Issue Manager and Bookrunner (There was
no investment house that acted as underwriter. Aside from
its official role as Financial Advisor, BDO Capital effectively
acted as Issue Manager and Bookrunner to the transaction.) |
|
| 7. |
Rizal Commercial Banking Corporation ("RCBC") |
| |

|
Php4.9 billion Primary and Secondary Offering of Common Shares (Follow-On Offering) |

|
Issue date: March 2007 |

|
BDO Capital acted as Underwriter. |
|
| 8. |
EEI Corporation |
| |

|
Php353.4 million IPO |

|
Issue date: March 2007 |

|
BDO Capital acted as Underwriter. |
|
| 9. |
Pacific Online Systems Corporation ("POSC") |
| |

|
Php353.4 million IPO |

|
Issue date: April 2007 |

|
BDO Capital acted as Underwriter. |
|
| 10. |
National Reinsurance Corporation of the Philippines ("NCRP") |
| |

|
Php2.8 billion IPO |

|
Issue date: April 2007 |

|
BDO Capital acted as
Issue Manager and Joint Lead Underwriter. In addition, BDO
Capital also acted as Receiving Agent and Receiving Bank for
the transaction. |
|
| 11. |
Union Bank of the Philippines("NCRP") |
| |

|
Php4.6 billion Primary Offering of Common Shares (Follow-On Offering) |

|
Issue date: May 2007 |

|
BDO Capital acted as Participating Domestic Sub-Underwriter. |
|
| 12. |
Alliance Global Group, Inc. |
| |

|
Php18.0 billion Primary and Secondary Offering of Common Shares (Follow-On Offering) |

|
Issue date: June 2007 |

|
BDO Capital acted as Issue Manager and Domestic Lead Underwriter. |
|
| 13. |
Aboitiz Power Corporation |
| |

|
Php10.0 billion Initial Public Offering of Common Shares |

|
Issue date: July 2007 |

|
BDO Capital acted as Domestic Lead Underwriter. |
|
| 14. |
Phoenix Petroleum Philippines, Inc. |
| |

|
Php355.25 million Initial Public Offering of Common Shares |

|
Issue date: July 2007 |

|
BDO Capital acted as Issue Manager and Sole Underwriter. |
|
| 15. |
Vista Land & Lifescapes, Inc. |
| |

|
Php21.2 billion Primary and Secondary Offering of Common Shares (Follow-On Offering) |

|
Issue date: July 2007 |

|
BDO Capital acted as Issue Manager and Domestic Lead Underwriter. |
|
| 16. |
Anchor Land Holdings, Inc. |
| |

|
Php770.0 million Initial Public Offering of Common Shares |

|
Issue date: August 2007 |

|
BDO Capital acted as Issue Manager and Sole Underwriter. |
|
| 17. |
GMA Network, Inc. |
| |

|
Php7.76 billion Initial Public Offering of Common Shares and Offer of Philippine Depositary
Receipts |

|
Issue date: August 2007 |

|
BDO Capital acted as Participating Underwriter. |
|
| 18. |
SM Investments Corporation |
| |

|
Php4.5 billion 5-Year Redeemable Preferred Shares Issue
|

|
Issue date: August 2007 |

|
BDO Capital acted as Joint Issue Manager and Bookrunner |
|
| 19. |
Acquisition of the Philippine banking and credit card business of American
Express Bank Ltd. by Banco de Oro - EPCI, Inc. |
| |

|
BDO Capital acted as Advisor to BDO-EPCI
|

|
Documents signed in August 2007; financial closing expected 3 months thereafter. |

|
The acquisition will
consolidate and cement the merged bank's (BDO-EPCI) foothold
in the credit card business and enhance its reach in private
banking. |
|